HAPSi: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
HAPSi
Largest movements
- Cash -€22,499
down €22,499 (-81.4%), from €27,636 to €5,137
mainly Other debts (-€42,002) and Investment in fixed assets (net) (-€32,172)
- Tangible fixed assets +€22,290
up €22,290 (+68.2%), from €32,689 to €54,979
- Receivables within one year +€9,580
up €9,580 (+28.6%), from €33,530 to €43,110
of which Other amounts receivable: +€10,829
- Profit (loss) carried forward +€55,183
up €55,183 (+183%), from €30,094 to €85,277
- Other debts -€42,002
no longer reported in 2025 (was €42,002)
- Tax, wage and social debts -€3,810
down €3,810 (-56.4%), from €6,759 to €2,949
- Gross operating margin +€39,002
up €39,002 (+78.6%), from €49,600 to €88,602
- Taxes +€10,379
up €10,379 (+80.1%), from €12,965 to €23,344
- Depreciation +€4,228
up €4,228 (+74.8%), from €5,654 to €9,882
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €93,855 | €103,226 | +€9,371 | +10.0% |
| Fixed assets | 21/28 | €32,689 | €54,979 | +€22,290 | +68.2% |
| Tangible fixed assets | 22/27 | €32,689 | €54,979 | +€22,290 | +68.2% |
| Furniture and vehicles | 24 | €32,689 | €54,979 | +€22,290 | +68.2% |
| Current assets | 29/58 | €61,166 | €48,247 | -€12,919 | -21.1% |
| Amounts receivable within one year | 40/41 | €33,530 | €43,110 | +€9,580 | +28.6% |
| Trade receivables | 40 | €31,495 | €30,246 | -€1,249 | -4.0% |
| Other amounts receivable | 41 | €2,035 | €12,864 | +€10,829 | +532% |
| Cash at bank and in hand | 54/58 | €27,636 | €5,137 | -€22,499 | -81.4% |
| Total equity and liabilities | 10/49 | €93,855 | €103,226 | +€9,371 | +10.0% |
| Equity | 10/15 | €30,094 | €85,277 | +€55,183 | +183% |
| Profit (loss) carried forward | 14 | €30,094 | €85,277 | +€55,183 | +183% |
| Amounts payable | 17/49 | €63,761 | €17,949 | -€45,812 | -71.8% |
| Amounts payable within one year | 42/48 | €63,761 | €17,949 | -€45,812 | -71.8% |
| Trade debts | 44 | €15,000 | €15,000 | = | 0.0% |
| Suppliers | 440/4 | €15,000 | €15,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,759 | €2,949 | -€3,810 | -56.4% |
| Taxes | 450/3 | €6,759 | €2,949 | -€3,810 | -56.4% |
| Other amounts payable | 47/48 | €42,002 | - | -€42,002 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,654 | €9,882 | +€4,228 | +74.8% |
| Other operating charges | 640/8 | €870 | €81 | -€789 | -90.7% |
| Gross operating margin | 9900 | €49,600 | €88,602 | +€39,002 | +78.6% |
| Operating profit (loss) | 9901 | €43,076 | €78,639 | +€35,563 | +82.6% |
| Financial charges | 65/66B | €17 | €112 | +€95 | +559% |
| Recurring financial charges | 65 | €17 | €112 | +€95 | +559% |
| Profit (loss) for the period before taxes | 9903 | €43,059 | €78,527 | +€35,468 | +82.4% |
| Income taxes | 67/77 | €12,965 | €23,344 | +€10,379 | +80.1% |
| Profit (loss) for the period | 9904 | €30,094 | €55,183 | +€25,089 | +83.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,094 | €55,183 | +€25,089 | +83.4% |
Source: filed annual accounts (NBB), financial years ended 31 January 2024 and 31 January 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.